It was reported on the 14th Beijing time that new world wealth, a wealth research company, recently released the list of the world's richest cities in 2019. New York, with 65 billionaires and more than 380000 millionaires, won the title of the world's richest cities.
Beijing, Shanghai, Hong Kong and Shenzhen were shortlisted in the list. Beijing and Shanghai ranked fifth and sixth respectively, and Hong Kong ranked eighth, the same as last year's list. Shenzhen ranks 20th.
According to the data, the total wealth of New York residents reached US $3 trillion, far exceeding Tokyo (US $2.5 trillion), which ranked second, and San Francisco (US $2.4 trillion) and London (US $2.4 trillion), which ranked third.
The total wealth of a city refers to the private wealth owned by all individuals living in the city, including property, cash, stocks and business interests. New world wealth points out that private wealth is a better indicator of an economy's financial health than GDP.
Beijing ranks fifth in the list of the world's richest cities, with a total wealth of $2.1 trillion, followed by Shanghai ($1.9 trillion). Hong Kong ranks eighth with a total wealth of US $1.2 trillion. Shenzhen ranks 20th with a total wealth of 750 billion US dollars.